11182017Headline:

F.M Ishaq Dar convinced W.B to finance Diamer-Bhasha dam

Finance Minister of Pakistan Mr. Ishaq Dar has held a meeting with Mr Xiaoyu Zhao, Vice President of Asian Development Bank (ADB).  Dar told the journalists that he has convinced the World Bank to finance the $14 billion on the project of Diamer-Bhasha dam. However initially the World Bank (WB) was reluctant to finance Diamer-Bhasha dam and has linked its willingness to obtain an NOC from India. Later on the bank has offered to provide financing for Dasu Dam to produce cheap hydropower.

He also endorsed that the Vice President of ADB said “The time has come to begin a new relationship with Pakistan and reverse the present trend of negative inflows”.  Finance Minister of Pakistan further told the journalists that he has approached all international lenders because one institution could not provide so much funding alone.

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